Strata SFR Announces Sales totaling $45.5M of Build For Rent Projects and SFR Portfolios
Four Build-For-Rent Projects in the Greater Charlotte Metro
The Strata Team is one of the most experienced and knowledgeable brokers in the BTR space. We hope this is the first of many exciting deals in NC we will buy through them.”
MOORESVILLE, NC, UNITED STATES, March 1, 2022 /EINPresswire.com/ -- Strata SFR, a leading Build For Rent and Single-Family Rental Portfolio Brokerage headquartered in Mooresville, NC, announced today the sale of four Build-For-Rent Projects in submarkets around Charlotte, NC. — Andy Wu
The first project closing occured in December and consisted of a portion of 46 New Construction Townhomes in Waxhaw, NC priced for a total of $13.8M, with units averaging $295,000. The New Construction Townhomes sold to ResiCap, an Atlanta GA based, Single-Family Rental company focused on providing affordable priced, high-quality rental houses in key US markets. Andy Wu, Director of Acquisitions, led the acquisition for ResiCap. "The Strata Team is one of the most experienced and knowledgeable brokers in the BTR space. Given the quality of their new construction product, we hope this is the first of many exciting deals in NC we will buy through them", said Mr. Wu. Lee Hoffman led the sale on Strata's side, who joined the firm in mid-2021 as an Investment Sales Associate.
The other Build For Rent project closings happened in January of this year and were part of three separate townhome subdivisions scattered throughout the Charlotte market totaling 55 units, collectively selling for $26M, at an average per-unit price of $475,000. The seller is a regionally based builder focusing on well-located communities in key Southeast US markets and sold to a national Single-Family Rental operator backed by institutional investment capital. Strata SFR's CEO, Adam Stern, led the sale.
Strata SFR specializes in the disposition of single-site Build For Rent Projects throughout the Southeast United States and scattered-site Single-Family Rental Portfolios. They noted that the closings occurred alongside a couple of smaller portfolios of already existing totaling an additional $5,760,000 in volume across 33 individual single-family detached rental homes. "We are ecstatic for our company's tremendous growth in 2021. Our builders, institutional and fund buyers, and smaller SFR Portfolio owner clients all benefitted from the hard work that grew our business throughout 2021. It is so gratifying that most of our recent sales were made by some of our newest team members who have just started their careers as brokers in the SFR and B4R space," said Adam Stern, CEO of Strata SFR.
About Strata SFR
Strata SFR is a purpose-built company focused on the Single-Family-Rental Sector. We bring together Build-For-Rent projects and lead the disposition of SFR Portfolios with a primary focus on the Southeast United States. Based in Mooresville, N.C., in Metro Charlotte, the company was founded in January 2020. To date, it has brokered more than $300 million in single-family rental home sales between owners and institutional investors.
Adam Stern
Strata SFR
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